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Rent-dodging government tenants have forced legendary property mall developer Sisa Ngebulana's Rebosis property company owner of East London's mega mall Hemingways to the brink of financial collapse.
JSE-listed Rebosis Property Fund’s A and B shares leapt on Friday after it said it had entered into a sales deal with Ulricraft, a special purpose vehicle (SPV) owned by Vunani Capital Partners (VCP), which could see the debt heavy firm dispose of its commercial office portfolio for R6.32 billion.